Business, Economics and Jobs

Britain back in recession?

The OECD claimed today that Britain is back in recession. The Paris-based NGO's figures run at slight variance to those of British-based economic statistics compilers … but not by much. Even if the OECD's figures are slightly off, nearly 18 months of zero growth feels to British consumers and businessmen like a double-dip recession.

The question is: at what point does the Conservative-led coalition own this economy?

Coming up on its second anniversary in power, at what point will their strategy of blaming the Labour government for Britain's economic woes stop finding public acceptance?

When will the public start accepting that the massive cuts imposed in the government's austerity drive took a weak, heavily indebted economy and pushed it into recession - which ultimately is adding to its indebtedness?

Perhaps sooner than Prime Minister David Cameron would like as this comment from the Conservative-supporting Daily Telegraph shows.  Although it doesn't entirely blame Cameron and co for getting things wrong. The article also blames the beastly German Hun for forcing Europe into an era of austerity that means Britain's main export market is not buying British products.

The austerity sauce may be good for the British goose, but clearly it's not so good for the European gander.